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economy. >>> still ahead on "worldwide exchange," fiscal cliff fiasco. president obama cutting his trip to hawaii short to work a deal that could avoid the fiscal cliff in a few days. we'll break down what's at stake in "your money." >>> if you got fewer presents under the tree, you may be ready. spending numbers are coming in, and they're not pretty. >>> plus, new numbers for apple's ipad mini and more. that's coming up on "worldwide exchange." >>> good morning and welcome to a special edition of "worldwide exchange." i'm jackie deangelis along with seema mody. ross and kelly are off for boxing day. they'll be back tomorrow. >> that's right. >>> let's get a brief check on the markets this morning. energy and metals are trading at this hour on the nymex. you see crude oil up .6%. brent crude also up. and take a look t yellow metal, gold. down just fractionally. now u.s. futures will begin trading in about a half-hour. the cme globex has been closed for christmas and will reopen at 6:00 a.m. eastern time. that also goes for treasuries and the foreign exch
economy. >>> still ahead on "worldwide exchange," fiscal cliff fiasco. president obama cutting his trip to hawaii short to work a deal that could avoid the fiscal cliff in a few days. we'll break down what's at stake in "your money." >>> if you got fewer presents under the tree, you may be ready. spending numbers are coming in, and they're not pretty. >>> plus, new numbers for apple's ipad mini and more. that's coming up on "worldwide...
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that is the bulk of the fiscal cliff anyway and it is also the bulk of the impediment to the economy. so if you were thinking where is this going to lead us, what happens if we go off the cliff, i would estimate that in the short run it would probably cost us up to about a point of gdp which is about a half million jobs. in the long run it could cost about a half percentage point of growth every year. so, you know, this is the kind of thing that is really quite serious in terms of its impact on standard of living over the long haul. and we really need to get this right. it is not the kind of thing we can do in the next couple days i'm afraid. >> half a million jobs, whether half or a whole million jobs, that is a significant number. a big hit to the labor market. are you saying recession or not? >> well, you know, again, it depends on what the baseline is. i'm not sure we'd actually call it a recession, but just losing a percentage point of growth is significant whether it puts us in through recession or not. if we go -- remember our growth rate has only been about 2%. if we cut our g
that is the bulk of the fiscal cliff anyway and it is also the bulk of the impediment to the economy. so if you were thinking where is this going to lead us, what happens if we go off the cliff, i would estimate that in the short run it would probably cost us up to about a point of gdp which is about a half million jobs. in the long run it could cost about a half percentage point of growth every year. so, you know, this is the kind of thing that is really quite serious in terms of its impact on...
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could mean for the economy and washington. >>> if lawmakers force the economy off the fiscal cliff, over 2 million jobs will be at risk, including over 956,000 small business jobs from supplier companies and mom and pop stores. er ] at scottrade, we believe the more you know, the better you trade. so we have ongoing webinars and interactive learning, plus, in-branch seminars at over 500 locations, where our dedicated support teams help you know more so your money can do more. [ rodger ] at scottrade, seven dollar trades are just the start. our teams have the information you want when you need it. it's another reason more investors are saying... [ all ] i'm with scottrade. >>> while europe has been trading in large part around what we're going to do or won't to in this country, that's driven trading overnight in asia. >> but you tonight have pan i go. you have an absence of panic on both sides. many european markets today didn't open at all. half days in the like of london, for example. similarly over in spain and in amsterdam, they also had a half day today. and it was a negative bi
could mean for the economy and washington. >>> if lawmakers force the economy off the fiscal cliff, over 2 million jobs will be at risk, including over 956,000 small business jobs from supplier companies and mom and pop stores. er ] at scottrade, we believe the more you know, the better you trade. so we have ongoing webinars and interactive learning, plus, in-branch seminars at over 500 locations, where our dedicated support teams help you know more so your money can do more. [ rodger...
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that's also being dragged down about the fiscal cliff. you're seeing consumers pull back on spending and pulling back on how they feel about the economy. they are worried about whether there are going to be r more jobs in the new year. >> they are saying 9.1% unemployment is in the forecast by the end of next year if we don't reach a deal. alison kosik in new york, thank you as always. when you have diabetes... your doctor will say get smart about your weight. i tried weight loss plans... but their shakes aren't always made for people with diabetes. that's why there's glucerna hunger smart shakes. they have carb steady, with carbs that digest slowly to help minimize blood sugar spikes. and they have six grams of sugars. with fifteen grams of protein to help manage hunger... look who's getting smart about her weight. [ male announcer ] glucerna hunger smart. a smart way to help manage hunger and diabetes. >>> welcome back. teachers in utah are going to class today. starting at noon today, 200 teachers will be at a conference near salt lake
that's also being dragged down about the fiscal cliff. you're seeing consumers pull back on spending and pulling back on how they feel about the economy. they are worried about whether there are going to be r more jobs in the new year. >> they are saying 9.1% unemployment is in the forecast by the end of next year if we don't reach a deal. alison kosik in new york, thank you as always. when you have diabetes... your doctor will say get smart about your weight. i tried weight loss plans......
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the fiscal cliff, still looming. spending cuts and tax hikes that could shove our economy into recession. and a deadline lawmakers ignored until the very last possible minute. live pictures now of the capitol. looks beautiful. man, but there's a lot of wrangling going on there. lawmakers are back up -- had their backs up against the wall right now. and as they try to find a plan that can pass congress. let's hope they do. cnn's chief white house correspondent is jessica yellin. she is following the negotiations, working very hard on this saturday. so jess, democrats and republicans are supposedly working on a plan, even as we speak. what do we know about it? >> reporter: well, we know, don, that it's the senate leaders that are hashing this out. and what they're looking to negotiate is a deal that would extend current low tax rates for middle income americans. we don't know the exact threshold levels. so would it be people who make $400,000 and less, would it be $250,000 and less. but something that would extend low
the fiscal cliff, still looming. spending cuts and tax hikes that could shove our economy into recession. and a deadline lawmakers ignored until the very last possible minute. live pictures now of the capitol. looks beautiful. man, but there's a lot of wrangling going on there. lawmakers are back up -- had their backs up against the wall right now. and as they try to find a plan that can pass congress. let's hope they do. cnn's chief white house correspondent is jessica yellin. she is following...
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stock market, despite all the worries about the fiscal cliff and maybe slower growth in the u.s. economy, the stock market has had a great year. too bad you missed out. our money has been in the market, the rest of us have been worried about the fiscal cliff. >> number eight, facebook's ipo, hundreds of millions of people like facebook, but investors did not in its fist day as a trading company. questions about nasdaq and the company's ability to make money on mobile users pummeled the stock which has yet to climb back to its ipo price. >> number seven, mother meyer. the new ceo of yahoo, who announced she was just going to take a two-week maternity leave as she tried to turn the company around. looks like a mother's touch is just what yahoo needed. >> number six, mother nature. a drought in the midwest that scorched the corn and bean crops. who can forget superstorm sandy? neighborhoods along the northeast swept away. millions without power, and damages as high as $50 billion, raising lots of questions about u.s. infrastructure and whether we should be spending money to fix it.
stock market, despite all the worries about the fiscal cliff and maybe slower growth in the u.s. economy, the stock market has had a great year. too bad you missed out. our money has been in the market, the rest of us have been worried about the fiscal cliff. >> number eight, facebook's ipo, hundreds of millions of people like facebook, but investors did not in its fist day as a trading company. questions about nasdaq and the company's ability to make money on mobile users pummeled the...
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the rest of us worried about the fiscal cliff. >> number eight, facebook's ipo. hundreds of millions of people like the ipo but investors did not. trading glitches and questions about the company's ability to make money on mobile users pummelled the stock, which has yet to climb its way back to its ipo price. >> number seven, mother meyer. the new ceo of yahoo! who announced she was going to take a two-week maternity leave. looks like the mother's touch is exactly what yahoo! needed. >> number six, mother nature. a drought sending prices sky high. >> who can forget superstorm sandy? millions without power and damages as high as fifty billion dolla dollars. >> number five, is china leading the world. we do know that china will be the biggest leading. >> china. china. >> it's clear that china is a competitor and a partier. >> number four, europe. the european union was fractured by too much debt approximate the austerity plans to fix it. that saga is far from other. >> number three, the housing market finally bottomed out. low home prices and record low mortgage ra
the rest of us worried about the fiscal cliff. >> number eight, facebook's ipo. hundreds of millions of people like the ipo but investors did not. trading glitches and questions about the company's ability to make money on mobile users pummelled the stock, which has yet to climb its way back to its ipo price. >> number seven, mother meyer. the new ceo of yahoo! who announced she was going to take a two-week maternity leave. looks like the mother's touch is exactly what yahoo!...
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despite all those worries about the fiscal cliff and maybe slower growth in the u.s. economy, the stock market has had a great year. too bad you missed out. the smart money's been in the market. the rest of us have been worried about the fiscal cliff. >> number eight, facebook's ipo. hundreds of millions of people like facebook but investors did not on its first day as a public company. trading glitches at the nasdaq and questions about the company's ability to make money on mobile users pummeled the stock which has yet to climb its way back to its ipo price. >> number seven, mother meyer, the new ceo of yahoo!. 37 years old. looks like a mother's touch is just exactly what yahoo! needed. >> number six, mother nature. an intense drought in the midwest that scorched the soy and corn crop sending prices sky high. who could forget superstorm sandy. neighborhoods swept away, millions without power and damages as high as $50 billion, raising lots of questions about u.s. infrastructure and whether we should be spending some money to fix it. >> number five, china. is china s
despite all those worries about the fiscal cliff and maybe slower growth in the u.s. economy, the stock market has had a great year. too bad you missed out. the smart money's been in the market. the rest of us have been worried about the fiscal cliff. >> number eight, facebook's ipo. hundreds of millions of people like facebook but investors did not on its first day as a public company. trading glitches at the nasdaq and questions about the company's ability to make money on mobile users...
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not just the fiscal cliff with the potential threat to the economy, thousands of dockworkers from maine to texas could go on strike within days if their union can't reach a deal with major shipping companies. these are the workers who move goods from the nation's ports to the stores. >> everybody from your mom and pop retailer to your farmer, to the trucking company who has go in and pick up the containers at the ports. this will be felt not just at the local economy, but nationwide for everybody else who relies on these ports. >> one port official says east and gulf coast ports handle about $55 billion worth of cargo a month so a strike could have a major effect on the retail business. >>> land lines not going the way of the vcr just yet. older americans are slow to get rid of land lines and go mobile. the centers for disease control asked 20,000 households about trends throughout the year. the study found about 52% use cell phones for all of their cal calls, that's less than 2% increase from previous years. the older generation is slower to make the switch. >>> patrick democracy might
not just the fiscal cliff with the potential threat to the economy, thousands of dockworkers from maine to texas could go on strike within days if their union can't reach a deal with major shipping companies. these are the workers who move goods from the nation's ports to the stores. >> everybody from your mom and pop retailer to your farmer, to the trucking company who has go in and pick up the containers at the ports. this will be felt not just at the local economy, but nationwide for...
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. >> number one is the fiscal cliff. lawmakers saw it coming and didn't bother to pay any attention to it until after the election. had they put politics aside and dealt with it earlier, who knows how strong the u.s. economy would be right now. >> and make sure you join me for the biggest stories of the year in crime, politic, money and the most scandalous stories. the top ten of 2012, 8:00 eastern. a teen battling a terminal illness uses lyrics instead of letters to say goodbyes. >> it's kind of me always being there for him. like if they keep singing that song throughout their life, it will be worth it. >> this teen's final wish, next. s that will make it drop over, and over again. ♪ from jammin' jerk chicken, to creamy gouda bisque. see what's new from campbell's. it's amazing what soup can do. with less chronic osteoarthritis pain. imagine living your life with less chronic low back pain. imagine you, with less pain. cymbalta can help. cymbalta is fda-approved to manage chronic musculoskeletal pain. one non-narcoti
. >> number one is the fiscal cliff. lawmakers saw it coming and didn't bother to pay any attention to it until after the election. had they put politics aside and dealt with it earlier, who knows how strong the u.s. economy would be right now. >> and make sure you join me for the biggest stories of the year in crime, politic, money and the most scandalous stories. the top ten of 2012, 8:00 eastern. a teen battling a terminal illness uses lyrics instead of letters to say goodbyes....
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the fiscal cliff will affect the u.s. economy. the u.s. economy affects the global economy. "a" equals "b" equals "c," and you see how it happens. there's another one as well. this is what you've got. you've also got the debt ceiling debacle which is nestling and now a cloud is coming in. starting with the fiscal cliff. it is so complicated and confusing, boehner saying the senate must go first. harry reid saying the u.s. is going over the cliff. consumer confidence numbers are down. markets are roiled, and it's not surprising people are worried. but now factor in as tim geithner said that the debt ceiling would be reached by the end of the year. $16.4 trillion. extraordinarily measures. now, what does extraordinary measures mean? suzanne, i'll tell you. it means literally robbing peter to pay paul. shifting the money around. so that you can actually keep paying the bills before you hit the ceiling. all in all, i can't remember an end of a year, suzanne, when we've had two so serious issues affecting the u.s. economy all at the same time. >> it is worrisome. i wonder, richar
the fiscal cliff will affect the u.s. economy. the u.s. economy affects the global economy. "a" equals "b" equals "c," and you see how it happens. there's another one as well. this is what you've got. you've also got the debt ceiling debacle which is nestling and now a cloud is coming in. starting with the fiscal cliff. it is so complicated and confusing, boehner saying the senate must go first. harry reid saying the u.s. is going over the cliff. consumer...
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despite all those worries about the fiscal cliff and maybe slower growth in the u.s. economy, the stock market has had a great year. too bad you missed out. smart money's been on the market. the rest of us have been worried about the fiscal cliff. >> number eight, facebook's ipo. hundreds of millions of people like facebook, but investors did not on its first day as a public company. trading glitches at the nasdaq and questions about the company's ability to make money on mobile users pummeled the stock, which has yet to climb its way back to its ipo price. >> number seven, mother meyer. the new ceo of yahoo! who announced she was just going to take a two-week maternity leave as she tried to turn this company around. 37 years old, it looks like a mother's touch is what yahoo! needed. >> mother nature. an intense drought in the midwest that scorched the corn and soy crop, sending prices sky high. >> who can forget super storm sandy? neighborhoods along the northeast swept away, millions without power and damages as high as 50 billion dollars raising lots of questions a
despite all those worries about the fiscal cliff and maybe slower growth in the u.s. economy, the stock market has had a great year. too bad you missed out. smart money's been on the market. the rest of us have been worried about the fiscal cliff. >> number eight, facebook's ipo. hundreds of millions of people like facebook, but investors did not on its first day as a public company. trading glitches at the nasdaq and questions about the company's ability to make money on mobile users...
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nuclear disaster. >>> six days to go before the fiscal cliff deadline and tomorrow could be make or break in determining if we steer clear or go over the edge. president obama is cutting his hawaiian vacation short and is leaving tonight and will be back tomorrow. that is when the house and senate is expected to reconvene. >>> starbucks weighing in with the own fiscal cliff campaign. workers at 120 d.c. area stores are asked to write this on their cup. come together. yeah, he says it's a way to send elected official as a respectful but potent message, urging them to come together to fin common ground. not grounds, ground. >> all of the bickering in washington, all it will take is a cup at starbucks, i think it will push everybody over the edge. get a deal. >>> ahead, a u.s. marine who languished in a mexican prison for months, gets to spend the holidays at home with his family. >>> coming up, we'll talk to one of the lawmaker who's helped win his release. you're watching "starting point." ♪ everybody well don't you know it's me now? ♪ ♪ yeah who's it, who's it huh? ♪ ♪ willy's b
nuclear disaster. >>> six days to go before the fiscal cliff deadline and tomorrow could be make or break in determining if we steer clear or go over the edge. president obama is cutting his hawaiian vacation short and is leaving tonight and will be back tomorrow. that is when the house and senate is expected to reconvene. >>> starbucks weighing in with the own fiscal cliff campaign. workers at 120 d.c. area stores are asked to write this on their cup. come together. yeah, he...
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economy falls off the fiscal cliff, it will have an impact around the world. haus sirken is a partner and fellow of the overseas markets and joins us from chicago. thanks for being with us on this weekend. the idea -- >> great being with you, martin. >> thank you. the idea of the world being affected by the fiscal cliff problem here in america wasn't really lost on the president after his meeting with congressional immediate leaders yesterday. let's listen. >> i'm modestly optimistic that an agreement can be achieved. nobody is going to get 100% what have they want. but let's make sure that middle class families and the american economy and, in fact, the world economy, aren't adversely impacted because people can't do their jobs. >> so that begs the question, hall. how are other countries preparing for this really precarious situation and one in which they really have no control. >> well, martin, there's not much they can do to prepare. what will happen, if the fiscal cliff turns out to take place, is that we'll start to see the economy beginning to slide. the
economy falls off the fiscal cliff, it will have an impact around the world. haus sirken is a partner and fellow of the overseas markets and joins us from chicago. thanks for being with us on this weekend. the idea -- >> great being with you, martin. >> thank you. the idea of the world being affected by the fiscal cliff problem here in america wasn't really lost on the president after his meeting with congressional immediate leaders yesterday. let's listen. >> i'm modestly...
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. >>> fiscal cliff isn't the only threat to the u.s. economy. get a load of this. the container cliff. nearly 15,000 dockworkers from maryland to texas are threatening to strike, starting sunday, which could shut down more than a dozen key shipping ports and cripple commerce across the country. dock on workers are demanding higher container royalties to boost their pay. >>> did the newtown school shooter have an evil gene? scientists at the university of connecticut will study adam lanza's dna to see if a mutation or ab normality could have made him more violent? this is the first study of its kind on a mass killer. >>> jockeying started for john kerry's senate seat, even before it's vacant. massachusetts congressman ed markey throwing his hat into the ring in kerry becomes secretary of state, which is expected, a special election will be held early this summer. markey is the first prominent candidate to declare for the race. >>> love this story. paying it forward by paying it backward. a story of rampant generosity and good will in canada happening in winnipeg. on
. >>> fiscal cliff isn't the only threat to the u.s. economy. get a load of this. the container cliff. nearly 15,000 dockworkers from maryland to texas are threatening to strike, starting sunday, which could shut down more than a dozen key shipping ports and cripple commerce across the country. dock on workers are demanding higher container royalties to boost their pay. >>> did the newtown school shooter have an evil gene? scientists at the university of connecticut will study...
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stock market, despite all those worries about the fiscal cliff and slower growth in the u.s. economy, the stock market has had a great year. too bad you missed out. smart money's been on the market, the rest of us are worried about the fiscal cliff. >> number eight, facebook's ipo. hundreds of millions of people like facebook, but investors did not on its first day as a public company. the stock has yet to climb its way back to the ipo price. >> number seven, mother meyer. the new ceo of yahoo! who announced she was just going to take a two week maternity leave as she tried to turn this company around. 37 years old, it looks like a mother's touch is what yahoo needed. >> mother nature. an intense drought in the midwest that scorched the corn and sky crop sending prices sky high. who can forget super storm sandy? neighborhoods along the northeast swept away, millions without power and damages as high as 50 billion dollars raising lots of questions about u.s. infrastructure and whether we should be spending money to fix it. >> china. is china slowing or leading the world. we kn
stock market, despite all those worries about the fiscal cliff and slower growth in the u.s. economy, the stock market has had a great year. too bad you missed out. smart money's been on the market, the rest of us are worried about the fiscal cliff. >> number eight, facebook's ipo. hundreds of millions of people like facebook, but investors did not on its first day as a public company. the stock has yet to climb its way back to the ipo price. >> number seven, mother meyer. the new...
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that's a surprise to me because of all the uncertainty the fiscal cliff has wrought in the economy. here's an interesting comment from senator tim johnson, your colleague, a democrat. sometimes all the market takes is to make them see the light. that is via politico. if you don't get a deal and the markets are closed tomorrow, and you open to a couple of really big down days, is that all it takes to strike a deal? >> i hope not. hopefully congress has learned what failure to strike a deal can mean to the american economy. >> is that thought still fresh? >> it's fresh in our mind. i remember the deal we had to pass on t.a.r.p. to help our financial markets. i don't want to revisit that again. >> we've heard all kinds of stuff this morning. as you noi, senator, you probably hear this from your constituents, they're so disinterested in the process, they're so disinterested in the sausage being made. what they want to know if that there are like minded, good, smart people in that congress we're looking at right now who all have phones and blackberrys and actually work in the same buildi
that's a surprise to me because of all the uncertainty the fiscal cliff has wrought in the economy. here's an interesting comment from senator tim johnson, your colleague, a democrat. sometimes all the market takes is to make them see the light. that is via politico. if you don't get a deal and the markets are closed tomorrow, and you open to a couple of really big down days, is that all it takes to strike a deal? >> i hope not. hopefully congress has learned what failure to strike a deal...
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the fiscal cliff is a battle of ideological wills. some americans feel strongly that increasing taxes hurts the economy. quite possible that it will. but the central question is whether it will hurt all that much to raise income taxes a little bit on the highest earners in the country. well, to push the country to the edge of a recession over this is irresponsible. the increase will hardly affect the economy. but that's my opinion. and my opinion should count as much as anyone else's. the problem is that in washington one person's opinion carries disproportionate weight and that person is grover norquist. he's the head of americans for tax reform. they have got the pledge that mostly republican members of congress signed to say they won't increase taxes. now, understand this. the top marginal tax rate going from 35% to 39.6% is not a tax increase. it is a return to tax rates that would have taken place after the temporary bush tax cuts expired and got extended. so the way i see it, that cuts with designed to be temporary, but clearly
the fiscal cliff is a battle of ideological wills. some americans feel strongly that increasing taxes hurts the economy. quite possible that it will. but the central question is whether it will hurt all that much to raise income taxes a little bit on the highest earners in the country. well, to push the country to the edge of a recession over this is irresponsible. the increase will hardly affect the economy. but that's my opinion. and my opinion should count as much as anyone else's. the...
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and we'll see also on the fiscal cliff. and the fiscal cliff standoff here in washington is frustrating the ceo of starbucks. he is asking some of his employees to help promote a deal. >>> and children in need of a home are caught in the middle of a dispute over human rights. people really love snapshot from progressive, but don't just listen to me. listen to these happy progressive customers. i plugged in snapshot, and 30 days later, i was saving big on car insurance. with snapshot, i knew what i could save before i switched to progressive. the better i drive, the more i save. i wish our company had something this cool. you're not filming this, are you? aw! camera shy. snapshot from progressive. test-drive snapshot before you switch. visit progressive.com today. progresso. in what world do potatoes, bacon and cheese add up to 100 calories? your world. ♪ [ whispers ] real bacon... creamy cheese... 100 calories... [ chef ] ma'am [ male announcer ] progresso. you gotta taste this soup. >>> the ceo of starbucks is pleading w
and we'll see also on the fiscal cliff. and the fiscal cliff standoff here in washington is frustrating the ceo of starbucks. he is asking some of his employees to help promote a deal. >>> and children in need of a home are caught in the middle of a dispute over human rights. people really love snapshot from progressive, but don't just listen to me. listen to these happy progressive customers. i plugged in snapshot, and 30 days later, i was saving big on car insurance. with snapshot, i...
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. >> coming at the same time is the fiscal cliff impasse. it's a potentially devastating one-two bunch for the u.s. economy. neither the longshore's union or alliance shipping company would allow anyone to speak on camera. but officials knowledgeable of the negotiations say it boils down to one issue. the key sticking point is the payments that the longshore men get for them. they pay royalties for the containers based on their weight but the shipping companies want to freeze those royalty payments for current longshore men and eliminate them for future hires. the longshore men say the royalties are made to make up for automation. but if the shipping companies lockout the longshore men -- >> that would impact more than containers. that would impact all cargos at ports. that would have a much more impactful reaction. $55 billion worth of cargo in an average month this year. candy? >> brian, i have to imagine retail companies and others who want those goods off the ships and in their stores have to be plenty worried. do they have a plan b to m
. >> coming at the same time is the fiscal cliff impasse. it's a potentially devastating one-two bunch for the u.s. economy. neither the longshore's union or alliance shipping company would allow anyone to speak on camera. but officials knowledgeable of the negotiations say it boils down to one issue. the key sticking point is the payments that the longshore men get for them. they pay royalties for the containers based on their weight but the shipping companies want to freeze those...
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fiscal cliff that the economy would go back into recession, unemployment would go from 7% to over 9%. that thousands of people would lose their jobs? >> no, wolf. i don't think there would be a permanent situation where we went over the fiscal cliff and nothing was done. my point is that if we went over the fiscal cliff and tax rates went up and spending cuts were substantial, that republicans would be under a huge pressure, even greater pressure than they are now to agree to a democratic initiative to cut middle class taxes and also restore the spending cuts that really do need to be restored. especially for the middle class and the poor. under the present circumstances, we to some extent have the worst of both worlds. the president loses the bargaining advantage of having that fiscal cliff and also having the public behind him. and has given in to republican demands of moving that threshold from $250,000 over $450,000. >> we've got to leave it there. grover norquist and robert reich, thanks to both of you. i know you'll be joining us later tonight as well. >>> we're following other
fiscal cliff that the economy would go back into recession, unemployment would go from 7% to over 9%. that thousands of people would lose their jobs? >> no, wolf. i don't think there would be a permanent situation where we went over the fiscal cliff and nothing was done. my point is that if we went over the fiscal cliff and tax rates went up and spending cuts were substantial, that republicans would be under a huge pressure, even greater pressure than they are now to agree to a democratic...
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Dec 24, 2012
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this could have a very, very bad impact on the economy as a whole. it is called the fiscal cliff. for that reason. a plan to stop it all from happening still eludes washington. so congress has broken camp for the holidays, the president has gone to hawaii on vacation. white house correspondent brianna keilar tells us no one is really talking, anyone, to get this solved. at least not here at christmas. >> reporter: senate democrats are not in conversations right now with senate republicans or with house republicans. and this is problematic obviously because in order to avoid the fiscal cliff, you would need to find some sort of deal that would make it through the senate and the house and that would mean democratic and republican support. right now, all eyes on the senate because they will reconvene on the 27th that is thursday. and senate majority leader harry reid, it is up to him really to cobble together something that can get some of that support. right now the white house is still supporting a threshold of $250,000 back to their initial starting point for tax rates going up fo
this could have a very, very bad impact on the economy as a whole. it is called the fiscal cliff. for that reason. a plan to stop it all from happening still eludes washington. so congress has broken camp for the holidays, the president has gone to hawaii on vacation. white house correspondent brianna keilar tells us no one is really talking, anyone, to get this solved. at least not here at christmas. >> reporter: senate democrats are not in conversations right now with senate republicans...
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Dec 26, 2012
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>>> fears of the fiscal cliff are taking some of the holiday cheer right out of wall street. cnn's alison kosik watching the post-christmas trading as well as a threat to the economy that could come even sooner than the cliff? let's start with the stocks, though. >> reporter: yes, stocks, very quiet today, very quiet session. not many investors in the game today. expect that to be the case the rest of the week. the fun tny thing, this is usuay the time we see the santa claus rally. the dow down 46 points. no deal on the if i'm not mistaken. that's spoiling the rally so far. it could be worse, though. we've seen much harsher reaction to all the congressional shenanigans in the past that could be a sign the economy is in better shape this time around. the s&p 500 is still on track for a 13% gain for the year. >>alison, what's the container cliff? >> reporter: the container cliff could be serious stuff. it could be a major threat to the economy. but it's also something that can be avoided. this container cliff is the name the national retail federation has given to this situatio
>>> fears of the fiscal cliff are taking some of the holiday cheer right out of wall street. cnn's alison kosik watching the post-christmas trading as well as a threat to the economy that could come even sooner than the cliff? let's start with the stocks, though. >> reporter: yes, stocks, very quiet today, very quiet session. not many investors in the game today. expect that to be the case the rest of the week. the fun tny thing, this is usuay the time we see the santa claus...
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Dec 25, 2012
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with the house hopelessly deadlocked any chance of averting the fiscal cliff will start in the senate and there's a bit of news on that front. our white house correspondent brianna keilar joins us live from honolulu, hawaii. so a slight bit of news. do tell. >> reporter: i hesitate to even say it's a slight bit of news because it's sort of exactly what we would expect, to be honest. the white house is talking about senate democrats about what senate majority leader harry reid will have to cobble together when the senate reconvenes on the 27th and that's really the last-ditch effort. it's seen as the senate trying to do something that can also pass the house, so this is exactly what you would expect. the real problem though is as of this morning, just a week out from when the fiscal cliff is expected to hit. there's no discussions between congressional democrats and congressional republicans even on the staff level. this is what democratic and republican sources are telling me, and overall just to remind people, instead of this being -- here's what we expect. instead of this being some
with the house hopelessly deadlocked any chance of averting the fiscal cliff will start in the senate and there's a bit of news on that front. our white house correspondent brianna keilar joins us live from honolulu, hawaii. so a slight bit of news. do tell. >> reporter: i hesitate to even say it's a slight bit of news because it's sort of exactly what we would expect, to be honest. the white house is talking about senate democrats about what senate majority leader harry reid will have to...
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Dec 25, 2012
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a week before the fiscal cliff, tax hikes for all americans and spending cuts that could pull the economy back into recession. ho, ho, ho. that makes everybody happy on christmas morning. president obama spent christmas eve playing a round of golf with friends and the democratic senate looks like the only hope for crushing the deadlock. our white house correspondent brianna keilar maybe with a little bit of news which is pathetic because it's talks within the democratic party, but at least they are talking. >> reporter: that's right. is it really news that democrats are talking? that's all the news we have to report as of today. i know i feel a little bit like a grinch reporting this, but the white house is in talks with senate democrats. that's not really surprising as we look to the senate to be the next -- really the next ones to act on this when they reconvene on the 27th. right now it's really up to senate majority leader harry reid to try to cobble something together that can get some republican support in the senate and the house to avoid the fiscal cliff. we are one week away from
a week before the fiscal cliff, tax hikes for all americans and spending cuts that could pull the economy back into recession. ho, ho, ho. that makes everybody happy on christmas morning. president obama spent christmas eve playing a round of golf with friends and the democratic senate looks like the only hope for crushing the deadlock. our white house correspondent brianna keilar maybe with a little bit of news which is pathetic because it's talks within the democratic party, but at least they...
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Dec 29, 2012
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economy caught right in the middle. we can only, of course, be talking about the fiscal cliff. our political panel is going to weigh in on the chances for a deal. try running four.ning a restaurant is hard, fortunately we've got ink. it gives us 5x the rewards on our internet, phone charges and cable, plus at office supply stores. rewards we put right back into our business. this is the only thing we've ever wanted to do and ink helps us do it. make your mark with ink from chase. >>> the pressure is on as harry reid and mitch mcconnell race against the clock to find a fix to the fiscal cliff. joining me are cnn contributor and democratic strategist maria cardona and republican strategist ron bonjin. good morning to you. >> good morning. >> good morning. >> ron, i'll start with you. reid and mcconnell, they really are the focus in the senate. in the house, it's speaker john boehner. i've got to ask you, is his job on the line if republicans balk at any deal that's reached? >> no, not at all. speaker boehner is extremely strong. his conferences support him and knows that he's bee
economy caught right in the middle. we can only, of course, be talking about the fiscal cliff. our political panel is going to weigh in on the chances for a deal. try running four.ning a restaurant is hard, fortunately we've got ink. it gives us 5x the rewards on our internet, phone charges and cable, plus at office supply stores. rewards we put right back into our business. this is the only thing we've ever wanted to do and ink helps us do it. make your mark with ink from chase. >>>...
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Dec 26, 2012
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in deal on the fiscal cliff. that's spoiling the rally so far. it could be worse. we have seen much bigger negative reaction to all these congressional shenanigans in the past. could be a sign the economy is in better shape this time around. you just look at the s&p 500, victor, still on track for a 13% gain for the year. that's as we look at all the red on the screen. victor? >> a lot of red there is. red and green. wish we had more green. alison kosik, thank you. >>> if you weren't able to watch your favorite christmas classic on netflix, we know why. the video streaming service is blaming a massive outage at one of amazon's web service centers. they say it happened on christmas eve. now, netflix has millions of subscribers in the u.s., canada, latin america, most folks have service up and running again by christmas day, though. if they missed it going into christmas, they can watch it in the evening. one netflix official says they're looking at how to prevent something like this from happening again. >>> russia is trying to put the brakes on americans adopting r
in deal on the fiscal cliff. that's spoiling the rally so far. it could be worse. we have seen much bigger negative reaction to all these congressional shenanigans in the past. could be a sign the economy is in better shape this time around. you just look at the s&p 500, victor, still on track for a 13% gain for the year. that's as we look at all the red on the screen. victor? >> a lot of red there is. red and green. wish we had more green. alison kosik, thank you. >>> if you...
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Dec 27, 2012
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the economy should be expanding to% or 3% next year without the fiscal cliff, that would correlate with about 2 million net new jobs next year. so it's a continuation of a steady expansion. i wish it was a little faster expansion, but nonetheless it is an expansion. if we had a fiscal cliff, and we are reversing all the gains we have seen. host: what about mortgage deduction on a second home or vacation home or a certain limit to the size of a mortgage? would you be supportive of that? guest: we have to recognize that negotiating away from what has been a striking departure from just protecting the mortgage interest deduction, property ownership. any breach to that invites further breaches. our members, even though they recognize the deck is a need to be resolved, any breach will lead to further coming back, loring the income limit. -- lowering the income limit. we have to recognize many of the second homes are in places like michigan, wisconsin, arkansas, where people are looking for a weekend fishing lodge. very not the hamptons or expensive homes in beverly hills. many homes are scat
the economy should be expanding to% or 3% next year without the fiscal cliff, that would correlate with about 2 million net new jobs next year. so it's a continuation of a steady expansion. i wish it was a little faster expansion, but nonetheless it is an expansion. if we had a fiscal cliff, and we are reversing all the gains we have seen. host: what about mortgage deduction on a second home or vacation home or a certain limit to the size of a mortgage? would you be supportive of that? guest:...
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Dec 29, 2012
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cliff is essentially taking the foot off the gas, putting two feet on the brake pedal and standing up. that is not what we want to do. the question is finding the right balance that still supports a vulnerable economy, yet begins the process to renormalize the revenue level of the federal government. host: now we've got the tweet from a fussy liberal. it says it's time to be a liberal and -- host: how much of the fiscal crisis can be attributed to the war into the afghanistan that were not part to the original budget? caller: it is -- guest: it is instructive to go back. if you look at the current deficit over $1 trillion, still a majority of that is related to the recession that began in 2008. however, it is certainly true that going into that recession, we were dealing with structural deficits that were result-a-result of tax cuts initiated during the bush administration and higher spending levels as well. and so you know, all of those play a role and it's certainly true that at the end of the day, more or less, what we decide to spend as a society, as a government, we have to then
cliff is essentially taking the foot off the gas, putting two feet on the brake pedal and standing up. that is not what we want to do. the question is finding the right balance that still supports a vulnerable economy, yet begins the process to renormalize the revenue level of the federal government. host: now we've got the tweet from a fussy liberal. it says it's time to be a liberal and -- host: how much of the fiscal crisis can be attributed to the war into the afghanistan that were not part...
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Dec 28, 2012
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in congress and the potential fiscal cliff we are facing and the elimination of the tax cuts. a lot of the small business owners i talked to and know are in favor of keeping the tax cuts in place especially for the middle class. we believe in balanced approach and we think it's ok to allow the elimination of the tax cuts for the wealthy. as taxes increase, the taxes at my business will be effected and i will have less to pay for investments and new equipment, hiring new people, but personally my income tax rates will go up. it's already a financially constrained environment. but customers tax rates will go up creating less demand for my products and less revenue for me and less tax revenue for the government. i want to urge congress and senators to vote for keeping our tax cuts in place, especially for the middle class and pushing our fiscal crisis to a balanced approach. go ahead and eliminate those tax cuts for the wealthiest individuals. if we all look at it and tried to consider what was going to work for the best, we needed to look at consumer demand. consumer demand is i
in congress and the potential fiscal cliff we are facing and the elimination of the tax cuts. a lot of the small business owners i talked to and know are in favor of keeping the tax cuts in place especially for the middle class. we believe in balanced approach and we think it's ok to allow the elimination of the tax cuts for the wealthy. as taxes increase, the taxes at my business will be effected and i will have less to pay for investments and new equipment, hiring new people, but personally...
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Dec 30, 2012
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in terms of immediate damage to the economy, the fiscal cliff has the potential to do more damage more quickly. there are other aspects of obamacare that are positive in terms of continued coverage for children up to 26 and a variety of things. every time i walk into an emergency room, i get angry at the number of people i have to in that -- i have to end up paying for basic health care for. people who walk in to get treated for a cold is something we all end up paying for. to the extent we can get health care for some of these folks in a way that would prevent the expenses from happening is a positive issue to be looking at as well. guest: if you are over 65 and can get medicare, there should not be any reason your health care or what the doctor can do for you will change with the new year. even if you are concerned about the doctor payments, that will be taken care of shortly. that is the one part of the fiscal cliff i am sure will be avoided before it affects medicare patients seeing doctors. guest: i am glad you said that. that may be one thing she was talking about. part of the fi
in terms of immediate damage to the economy, the fiscal cliff has the potential to do more damage more quickly. there are other aspects of obamacare that are positive in terms of continued coverage for children up to 26 and a variety of things. every time i walk into an emergency room, i get angry at the number of people i have to in that -- i have to end up paying for basic health care for. people who walk in to get treated for a cold is something we all end up paying for. to the extent we can...
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if he gets the bill through without pulling the fiscal cliff, our economy will improve the tax revenues from that will be more than he would get from the rich now. host: appreciate the call. let's go to oklahoma, a line for republicans. caller: i am so disgusted with both political parties. it seems they are putting their party before their country. and i want these politicians to know they are the ones that have been up there for years and spent all this money and now the average person will be the one who will have to pay, and i believe they are being bought off by the 2%. right is right, wrong is wrong, and to take away from the needy and cut food stamps from people who qualify -- it takes an act of congress to qualify. i cannot understand that these people are protecting the 2% of the country. host: jefferson city, missouri, you are on. go ahead. caller: yeah, i think boehner should be removed from the speaker of the house, and president obama should be in and his entire staff, including hillary clinton. i do not know if you have noticed but nancy pelosi, her eyes are consistently d
if he gets the bill through without pulling the fiscal cliff, our economy will improve the tax revenues from that will be more than he would get from the rich now. host: appreciate the call. let's go to oklahoma, a line for republicans. caller: i am so disgusted with both political parties. it seems they are putting their party before their country. and i want these politicians to know they are the ones that have been up there for years and spent all this money and now the average person will...
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really, is about wall street fraud that drove the economy over the fiscal cliff, and the financial crisis inquiry commission concluded that the collapse in 2008 based on wall street fraud resulted in a london dollars trillion lost of household wealth and -- $11 trillion loss of household wealth and savings. obama says this was "legal." this is the problem. we have lawlessness on wall street and washington, d.c. and they're committing crimes. we have massive fraud and cooking the books both on wall street and in washington that is not reported. host: denni says we can only hope that democrats do not get enough votes to do this deal. we are learning the democrats expect almost all of their members to vote in favor of the deal in the house. bobbie, college station, texas. go ahead. caller: i do believe we need to do drug testing for welfare, do some things with unemployment, motivate people to get jobs. so many people rely money coming in and they do not do anything about it. why would you go out and work if somebody is going to hand it to you? we need to stop some of these hud for people. l
really, is about wall street fraud that drove the economy over the fiscal cliff, and the financial crisis inquiry commission concluded that the collapse in 2008 based on wall street fraud resulted in a london dollars trillion lost of household wealth and -- $11 trillion loss of household wealth and savings. obama says this was "legal." this is the problem. we have lawlessness on wall street and washington, d.c. and they're committing crimes. we have massive fraud and cooking the books...
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of the fiscal cliff. i am pleased senators from both parties are currently working to find a bipartisan solution and finally passed the chamber. if that is the type of leadership american needs, not what they saw from the president this morning. the words of the speaker of the house, john boehner. the senate and house are in today. the senate gavelled in 10 minutes ago. on their agenda today is a couple of nominations, nomination votes at 2:00 p.m. eastern. forn they will gavel iout about an hour to discuss possible solutions to the fiscal cliff. the house will come in at 2:00 p.m. eastern. they have 14 suspension bills on the agenda this afternoon. we expect them to come in at 2:00. vote's expected 6:30 eastern. we will have live coverage on c- span. representative ron paul, former republican candidate, wraps up 24 years in the u.s. house. the baltic and look next at his farewell speech -- we will take alook nexxt at his farewell speech. >> my goals in 1976 were the same as they are today, promote peace
of the fiscal cliff. i am pleased senators from both parties are currently working to find a bipartisan solution and finally passed the chamber. if that is the type of leadership american needs, not what they saw from the president this morning. the words of the speaker of the house, john boehner. the senate and house are in today. the senate gavelled in 10 minutes ago. on their agenda today is a couple of nominations, nomination votes at 2:00 p.m. eastern. forn they will gavel iout about an...
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Dec 28, 2012
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right now, the country's attention and that of the media is on the fiscal cliff, and i understand that. economy of the nation and the world may be at stake here. i think that sooner or later, there will be some kind of an agreement. will we are talking about here is a fundamental change in the ruling, the possibility of a fundamental change in the way the senate does business peeping basically changing the rules of the senate from either 60 votes, sometimes 67, to 51 votes, which would make as no different than the house of representatives, and of course would reduce us in many respects not to irrelevance in the minority party. here is the problem. on one side, the majority leader and the democrats are frustrated by their inability to move forward with legislation. every time there is an opposition to a motion to proceed, which takes days and then they proceed, and that has made the united states congress -- one of the reasons why the united states congress is judged the least productive congress since the year 1947. so, understandably the majority is frustrated with their inability to
right now, the country's attention and that of the media is on the fiscal cliff, and i understand that. economy of the nation and the world may be at stake here. i think that sooner or later, there will be some kind of an agreement. will we are talking about here is a fundamental change in the ruling, the possibility of a fundamental change in the way the senate does business peeping basically changing the rules of the senate from either 60 votes, sometimes 67, to 51 votes, which would make as...
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Dec 26, 2012
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guest: in the new year, i think they come to some resolution of the fiscal cliff. we are looking forward to another year like we had. 2% growth are a little less. the prospects this quarter were impaired by the cliff, and we expect that to go forward into the next quarter. host: the president coming into town tonight, and the congress tomorrow. realistically, what do you think will happen? guest: i do not think a lot will happen and i think we will go over the cliff. i am an economist, not a politician. i do not believe that the republicans will give the president merely a tax increase on people over $250,000. there are not able to push that through the house with some spending cuts. that does not seem to make much sense. host: peter will be here for 40 minutes taking your calls and tweets about the u.s. economy. we continue to take a look at economic matters. our guest recently wrote about the debt limit. the headline in "the boston globe" -- do you agree with that sentiment? guest: i would hope it would not threaten the economy again. it is all bound up in this i
guest: in the new year, i think they come to some resolution of the fiscal cliff. we are looking forward to another year like we had. 2% growth are a little less. the prospects this quarter were impaired by the cliff, and we expect that to go forward into the next quarter. host: the president coming into town tonight, and the congress tomorrow. realistically, what do you think will happen? guest: i do not think a lot will happen and i think we will go over the cliff. i am an economist, not a...
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if we vote on the fiscal cliff bill today, i will vote against it because this is not the way to do the people's business. i will not condone a process that denies the american people on opportunity to participate in their republic on issues of this magnitude. i yield back. >> to what purpose does the gentleman from morgan seek recognition. without objection, the gentleman is recognized for one minute. >> the agreement we are expected to vote on has many commendable and important items. unfortunately too many are short term, much is left out, and we are losing an opportunity for reform. we cannot continue to have, by far, the world's most largest and expensive military, the lowest taxes, the most expensive and inefficient health-care system, and continue to allow infrastructure to fall apart all while america out grows and ages. this agreement represents the least we could have done under these circumstances and tragically, it institutionalizes for the next congress the madness of the short-term frenzy around artificial deadlines to drive the american public crazy. not only can we do be
if we vote on the fiscal cliff bill today, i will vote against it because this is not the way to do the people's business. i will not condone a process that denies the american people on opportunity to participate in their republic on issues of this magnitude. i yield back. >> to what purpose does the gentleman from morgan seek recognition. without objection, the gentleman is recognized for one minute. >> the agreement we are expected to vote on has many commendable and important...
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Dec 25, 2012
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that is going to be difficult as you can see from these fiscal cliff negotiations. it is very difficult for lots of people to except on the republican side. it is widely understood without some investment in infrastructure or education and the like, our recovery may falter and then given what is going on in europe and much of the world, that would be bad news. i think the number one job is to keep us on good, sound, fiscal standing and he has to deal with some of these outstanding issues. then you move on and you start to see things like education and how we deal with education in this country and the need for reform continues to be out there. working with the education secretary, it is going to occupy a bitter moment for this president. americans believe in education and of the it is the first step on that ladder to upward mobility. that is going to be a challenge that this president has to deal with them than he has to find these issues and then define them in terms of common ground. host: juan williams joining us on this christmas day. joining us from texas, this
that is going to be difficult as you can see from these fiscal cliff negotiations. it is very difficult for lots of people to except on the republican side. it is widely understood without some investment in infrastructure or education and the like, our recovery may falter and then given what is going on in europe and much of the world, that would be bad news. i think the number one job is to keep us on good, sound, fiscal standing and he has to deal with some of these outstanding issues. then...
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Dec 24, 2012
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, if in fact, we do go over the fiscal cliff. well, since the the horrific shooting in connecticut we've heard lots of ideas on how to keep our children safer, but what do the people really want? scott rasmussen joining us now with a look at his latest polls on these issues. scott, good to see you. in general, i imagine the move in favor of gun control is increasing, correct? >> it has. in fact. 47% say they want stricter gun control laws at the highest level of support we've ever seen. 55% want to see a ban on assault weapons or semi automatic weapons. david, people want something to be done. they know there are no simple solutions and the world can't be made perfectly safe, but they're looking at gun control and limits on violent video games and movies and concerned about mental illness. david: we're looking at the favor assault weapons ban number. the 55% you've mentioned. we've been there before. we had a federal assault weapons ban and we've debated the governor of new jersey how effective that was. and were the numbers abou
, if in fact, we do go over the fiscal cliff. well, since the the horrific shooting in connecticut we've heard lots of ideas on how to keep our children safer, but what do the people really want? scott rasmussen joining us now with a look at his latest polls on these issues. scott, good to see you. in general, i imagine the move in favor of gun control is increasing, correct? >> it has. in fact. 47% say they want stricter gun control laws at the highest level of support we've ever seen....
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Dec 26, 2012
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cliff. what do you say? >> of course they blame republicans. that is what people in washington bureau. let's be realistic about this. the president owns the economy at the end of the day, whether he wants to admit it or not. this is his job. i was there in 2003 in the second round of so-called bush tax policies came to the house. the house house wanted $550 billion in cuts. all they could get was $250 billion. it was a compromise. george bush came down and met with our conference and said, you guys thought the good fight, this is what i mean, need, let's go and take what we can get, with a $250 billion and the problem is solved. gerri: i don't see that exactly. [talking over each other] [talking over each other] >> can you imagine? can you imagine lyndon johnson sitting on the sidelines while something like this was going on? gerri: i cannot imagine lyndon johnson going anywhere but washington and sitting there, quite frankly. something that is new out this afternoon, senior administration o
cliff. what do you say? >> of course they blame republicans. that is what people in washington bureau. let's be realistic about this. the president owns the economy at the end of the day, whether he wants to admit it or not. this is his job. i was there in 2003 in the second round of so-called bush tax policies came to the house. the house house wanted $550 billion in cuts. all they could get was $250 billion. it was a compromise. george bush came down and met with our conference and...
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. >> as we avoid the fiscal cliff and the economy picks up, and big ifs, which industries stand to add the most job? rick newman is here for u.s. news and world report. rick, nice to meet you. >> hi, how are you doing? >> you gave us a list, and interesting to pull out the theme. social networking sites, video game publishing, online payment, definitely a theme here where the growth is at. >> heard this the last couple years, obviously, it's digital, digital, digital, and real estate on the list as well. social networking. it's not a 235d, but -- a fad, but here to stay, and mobile devices, social networks follows. news sites too, not just facebook and twitter, but pinterest. there's smaller ones, niche sites, but the trends is here to stay. >> sustainable building materials, huh? >> i hate to tell you, but it's growing, and it is growing because state and local governments have new standards, not because of washington, anything happening in washington. it's not a stimulus plan, don't worry, but it's new standards. state and local governments needs buildings to be energy first time in
. >> as we avoid the fiscal cliff and the economy picks up, and big ifs, which industries stand to add the most job? rick newman is here for u.s. news and world report. rick, nice to meet you. >> hi, how are you doing? >> you gave us a list, and interesting to pull out the theme. social networking sites, video game publishing, online payment, definitely a theme here where the growth is at. >> heard this the last couple years, obviously, it's digital, digital, digital,...
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Dec 26, 2012
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the fact the higher the price of gas goes, particularly if the economy -- if we go off this fiscal cliff which means we could go into a recession, which means people are going to have to cut back on all kinds of things, one of those things would be their trip to wherever, driving their car, maybe they will take a bus instead, won't that bring down prices a little bit? >> it certainly will if we go over the fiscal cliff, that could send the country into recession. that's the whole fear here is that we do go over the cliff and then yes, gas prices are likely to move lower. they could move substantially lower. but there has been some talk on the front of the fiscal cliff. there's some sort of resolution that will likely be hammered out, and so i don't really foresee us going off the said cliff, but certainly gas prices may be lower in 2013, even if there's some sort of resolution, we may fall in a yearly average somewhere between 2011 and 2012 average, so it may be a bad year but shouldn't be as bad as what we saw this year. liz: patrick, it seems like every two or three years for the last
the fact the higher the price of gas goes, particularly if the economy -- if we go off this fiscal cliff which means we could go into a recession, which means people are going to have to cut back on all kinds of things, one of those things would be their trip to wherever, driving their car, maybe they will take a bus instead, won't that bring down prices a little bit? >> it certainly will if we go over the fiscal cliff, that could send the country into recession. that's the whole fear...
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Dec 30, 2012
12/12
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he will tell us what the efforts are to keep the nation's economy from plunging off the so-called fiscal cliff into the higher taxes and deep spending cuts moments away. plus, an enormous drug smuggling tunnel discovered under a suburban home. wow. where this was located. and the clue that up ited off police. that tipped off police. >>> some families now in america living in limbo after russian president vladimir putin signed a laurie sphricting them from adopting children. they called it retaliation for a law that targets human rights violators. basically it is a political game with little children caught in the middle. right now few are hurting more than those families already matched with orphans and waiting to bring them home. melissa cutler from kdfw in dallas has more. >> we hoped she would get to come home for christmas. we are hoping now it is her valentine dress. >> they were just two months away from making a five-year-old russian girl with down syndrome a part of their family. >> she is not hard to love. not at all hard to love. >> they plan to rename her anna faith. >> most o
he will tell us what the efforts are to keep the nation's economy from plunging off the so-called fiscal cliff into the higher taxes and deep spending cuts moments away. plus, an enormous drug smuggling tunnel discovered under a suburban home. wow. where this was located. and the clue that up ited off police. that tipped off police. >>> some families now in america living in limbo after russian president vladimir putin signed a laurie sphricting them from adopting children. they called...
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Dec 30, 2012
12/12
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he will tell us what the efforts are to keep the nation's economy from plunging off the so-called fiscal cliff into the higher taxes and deep spending cuts moments away. plus, an enormous drug smuggling tunnel discovered under a suburban home. wow. where this was located. and the clue that up ited off police. that tipped off police. [ male announcer ] wouldn't it be cool if we took the already great sentra apart and completely reimagined it with best-in-class combined mpg, and more interior room than corolla and civic? and a technology suite with bluetooth, navigation and other handy stuff? yeahthat would be cool. introducing the all-new nissan sentra. it's our most innovative sentra ever. nissan. innovation that excites. now get a $169-per-month lease on a 2013 nissan sentra. ♪ c'mon0manp just do it,quick.ú no one's watchingp you0have to if you want to hang with0us ♪musicú good job america living in limbo after russian president vladimir putin signed a laurie sphricting them from adopting children. they called it retaliation for a law that targets human rights violators. basically
he will tell us what the efforts are to keep the nation's economy from plunging off the so-called fiscal cliff into the higher taxes and deep spending cuts moments away. plus, an enormous drug smuggling tunnel discovered under a suburban home. wow. where this was located. and the clue that up ited off police. that tipped off police. [ male announcer ] wouldn't it be cool if we took the already great sentra apart and completely reimagined it with best-in-class combined mpg, and more interior...
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Dec 27, 2012
12/12
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. >> eric: thousands of jobs and billions of dollars are at stake but this is no fiscal cliff. this is the looming port strike threatening to shut ports from boston, miami and beyond. florida governor rick scott telling the media a strike will be devastating to his state's economy. governor's right but it's an entire nation about to get slammed. brent is the president of miller and long construction. we import -- we pointed out somewhere around 65% of international trade hits the ports. we import cars, we import produce, we import oil and gas. explain how this will affect the prices for people watching right now of everything. >> well, it will be very significant in a lot of ways. we're talking about eleven ports, basically from boston pretty much all the way around to houston. the reason governor scott is concerned is there are four ports in florida that will be affected. this is containerized shipping. electronic goods, food stuff and things like that. it could be massive impact, especially in this -- we had retailers getting trouble getting back on track. it will affect ever
. >> eric: thousands of jobs and billions of dollars are at stake but this is no fiscal cliff. this is the looming port strike threatening to shut ports from boston, miami and beyond. florida governor rick scott telling the media a strike will be devastating to his state's economy. governor's right but it's an entire nation about to get slammed. brent is the president of miller and long construction. we import -- we pointed out somewhere around 65% of international trade hits the ports....
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Dec 28, 2012
12/12
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economy avoiding a second potentially devastating economic blow, amid the fight over the fiscal cliff, as a temporary deal is reached to avert a strike at u.s. ports, for now anyway. major ports in more than a dozen states up and down the eastern seaboard would have been affected with potential losses estimated to be in the billions. and now it looks like they will have 30 days, anyway, to come up with a permanent plan to avoid a strike that could potentially put thousands of americans out of work. phil keating is live for us in miami with the very latest on this phil? >> reporter: hello. good afternoon and this just goes to show that two sides on two ends of the spectrum can negotiate and an agreement. this of course involves all the east coast and gulf coast ports that deal with containers. there will not be a strike and there will not be a shutdown this weekend. however the key sticking point had been, and the details that remained murky as to what the resolution has been, but the key sticking point was with international longshoreman's association and the shipping companies over w
economy avoiding a second potentially devastating economic blow, amid the fight over the fiscal cliff, as a temporary deal is reached to avert a strike at u.s. ports, for now anyway. major ports in more than a dozen states up and down the eastern seaboard would have been affected with potential losses estimated to be in the billions. and now it looks like they will have 30 days, anyway, to come up with a permanent plan to avoid a strike that could potentially put thousands of americans out of...
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Dec 28, 2012
12/12
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economy goes over the fiscal cliff. harris: i have to tell you that wall street is starting to react for a fifth day of losses on wall street. stocks are reacting, it is the final friday before the fiscal cliff. the dow is a 55-point drop, but it has been lower at that. it is still early in the trading day yet. the forecast for today is not looking good. a fifth day of concern there among investors on wall street. jon: flirting with out 13,000 barrier. part of the looming fiscal cliff includes a castilian dollars in custom military spending. it is called sequestration. many military experts are concerned about the impact of sudden spending cuts and how it could impact national security. molly henneberg has more on that this morning live from washington. reporter: the cost will be big. the cuts will be large. if we go over that fiscal cliff, that triggers fears of automatic spending cuts, and we are just looking at the defense piece today. the pentagon will face a cut of $492 billion. that is about a half trillion dollar
economy goes over the fiscal cliff. harris: i have to tell you that wall street is starting to react for a fifth day of losses on wall street. stocks are reacting, it is the final friday before the fiscal cliff. the dow is a 55-point drop, but it has been lower at that. it is still early in the trading day yet. the forecast for today is not looking good. a fifth day of concern there among investors on wall street. jon: flirting with out 13,000 barrier. part of the looming fiscal cliff includes...